Telematics growth will see one-in-five cars connected by 2019
The hi-tech analyst is predicting that the telematics sector will continue to outperform in revenues all other M2M markets over the next five years with 20% of passenger vehicles world-wide connected within four years.
Smartphone-based models have become the main driver for M2M with sectors, such as healthcare, consumer electronics and retail, continue to evolve. Juniper Research forecasts that the M2M sector will generate service revenues of over $40Bn (£26.2Bn) globally by 2019, doubling the size of today’s market.
The new research, M2M & Embedded Devices: Strategic Analysis & Vertical Market Forecasts 2015-2019, points out that the roll-out of smart metering initiatives will see rapid up-take over the next six years, driven in part by governments’ ambitions to increase efficiency.
According to research author Anthony Cox, “both India and China are expected to see rapid adoption of smart metering as new metering infrastructure is installed and smart cities are created”.
The utility sector, however, is not expected to generate similar revenues to that of the connected automotive sector.
Mergers and acquisitions is also beginning to bring together some of the industry’s most powerful players, such as the merger of KORE Telematics and Raco Wireless, and the acquisition by Huawei of the M2M technology start-up Neul.
Other key findings include:
- The US remains the leading geographical region for M2M, ahead of Western Europe. China is becoming increasingly important as initiatives by the Country’s major carriers begin to take shape.
- Implementation of Big Data analytics will play an increasingly important role, particularly in areas such as telematics, smart metering and healthcare.
The whitepaper, M2M ~ In an IoT World, is available to download from the Juniper Research website together with details of the new research.
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